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Initial unemployment claims decreased last week to a five-year low as layoffs eased to a pre-recession level, the U.S. Labor Department says. About 323,000 claims were filed, the fewest since January 2008. The four-week rolling average, seen as a better labor-market indicator, declined by 6,250, to 336,750.

Related Summaries

The four-week rolling average of first-time unemployment claims, which gives a better measure of the U.S. labor market, has reached 330,500, the lowest level since November 2007. Last week, such claims totaled 336,000, up from 323,000 the previous week. Despite the increase, the number has reached the pre-recession level.

Foreign and domestic bond buyers drove trading volume in Indian bonds to a record high as investors speculated that the Reserve Bank of India is getting ready to lower interest rates more than it has previously indicated. Yields on Indian debt fell to a three-year low.

Japan's success in bringing down the value of its yen enhances the likelihood of successful negotiations to join three proposed Asian free-trade agreements, including the U.S.-backed Trans Pacific Partnership. The talks will test the diplomatic skill of Japan's leaders but the nearly insurmountable obstacle of the overvalued yen has been overcome.

First-time jobless claims in the U.S. rose 38,000, to 368,000 in the week that ended Jan. 26, the Labor Department said. Economists anticipated 345,000 initial claims. The four-week rolling average viewed by many economists as giving a more accurate picture of labor market conditions rose only 250.

First-time claims for unemployment benefits increased last week for the second consecutive week, the U.S. Labor Department said. Initial claims increased 11,000 to a seasonally adjusted 444,000, compared with the previous week's revised 433,000. However, the four-week moving average declined by 9,000.